CAIRO – 12 December 2024: Prime Minister, Mostafa Madbouly, chaired a meeting to review progress on the planned offering of the Gebel El-Zeit Wind Power Plant, located south of Ras Ghareb.
The session followed Madbouly’s recent announcement to include the plant in a broader initiative to list state-owned banks and companies as part of Egypt’s privatization program for 2025.
Cabinet Spokesperson Mohamed El-Homossany explained that the meeting focused on identifying optimal mechanisms for the plant’s offering and exploring strategies to maximize its value through partnerships with the private sector.
Discussions emphasized the plant’s strategic importance and its role in enhancing returns for the state.
Madbouly reiterated the government’s dedication to advancing its privatization agenda, ensuring expedited listing processes, and maximizing the potential of public assets.
He highlighted the critical role of private-sector collaboration in driving economic development and sustaining long-term growth.
Earlier this December, Madbouly announced plans to offer 11 state-owned entities in 2025, including Misr Pharmaceutical Industries, Gebel El-Zeit Wind Station, Wataniya Company, Safi Company, and Silo Foods.
During a press conference, he confirmed that Wataniya and Safi are slated for stock market listing by mid-2024, as part of Egypt’s Initial Public Offering (IPO) program.
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